[Video] F&I Tip of the Week: Give Buyers a Free 'No' - Great tip from Gerry Gould!

http://www.fi-magazine.com/news/story/2013/05/give-buyers-a-free-no.aspx?ref=-20130530&utm_source=Email&utm_medium=Enewsletter

I always enjoy Gerry's Video tips of the week, every week!

Cars.com Names Best Used Cars Under $10K

From Cars.com

10 Cars for $10K: The Best Used Cars for $10,000

TOP 10 REASONS TO SELL SERVICE CONTRACTS TO YOUR CUSTOMERS

Top Ten Reasons to buy SELL an Extended Service Contract for Your Vehicle

1. You no longer have to worry about what parts and labor costs will be in the future when your existing factory warranty runs out.

2. Do it yourself or my friend the mechanic repairs... translation, "PLEASE sell me a service contract, for my spouse is ignorant, reads too much Google, and plays Xbox still!" Work completed under a service agreement is guaranteed.

3. With a service agreement you can have up to 5 days of rental car reimbursement.

4. Our service contracts come with 24-hour roadside assistance; TWO 800 phone numbers, 1 for roadside assistnance, and 1 for claims.

5. Our service contract covers you in all 50 states when you travel.

6. When the factory warranty expires your car is at its greatest risk for mechanical break down.

7. No more worries over being charged for covered repairs.

8. Any car with an extended service contract is more valuable to a potential buyer or at trade time.

9. There is no limit on the number of times you can use your extended service contract for repairs to your vehicle.

10. It is easier to budget $1-$2 dollars per day for future mechanical repairs on your car than to come up with hundreds or thousands of dollars for an unexpected repair to your vehicle.

 

 

THE BONUS! PROFIT. Profit is not a dirty word. It is how business not only survive, but thrive.

Did you know that service contracts...

Did you know that buy purchasing service contract, it helps to protect the consumers from fraud?

The reputable warranty companies use the same book for repairs as the repair centers. They know the estimated hours for the job as well as research current parts cost.

This also guarantees the work to be done by a reputable repair center without the customer having to fear for their wallet.

The consumer you didn't try to sell or do a good job in building the value of the service contract? Well, they are left to the wolves wihtout any guidelines as to how many hours the repair should take, what the current parts cost should be, or a way to determine the quality & integrety of the repair centers.

You won't get repeat and referral customers by sending them out into their investment without the right protection and genuine concern for their well-being.

Why sell service contracts?

The number one response I get over & over from dealers is, "Peace of mind" for both the consumer buying as well as the for the dealership protecting the dealership's reputation.

Goals

Goals – the world has a habit of making room for those who know where they are going.

This quote is one of my favorites. I have no idea who the original author is.

I found it on the wall in a small-town dealership in the back office.

Quality

"Quality is simply giving people the product or service they really want and need." - The One Minute Manager

Wikipedia on quality - the non-inferiority or superiority of something

People, and only people can or cannot produce, offer, and provide quality.

http://www.businessinsider.com/the-top-10-cars-with-best-resale-value-2013-1?op=1

NADA Economist: New-Vehicle Sales to Maintain Momentum in 2013 - from F&I Showroom

NADA Economist: New-Vehicle Sales to Maintain Momentum in 2013

McLEAN, Va. — The sales momentum of new cars and light trucks established last year is likely to continue in 2013, predicted Paul Taylor, chief economist of the National Automobile Dealers Association.

Taylor expects more than 15.4 million new vehicles will be purchased or leased in the United States this year, an increase of 1 million vehicles over 2012. Last year, 14.4 million new vehicles were sold.

“Pent-up demand, affordable auto loans and enticing new-vehicle designs add up to a solid sales year that will outperform the overall U.S. economy,” Taylor said.

Taylor also highlighted several factors that will support his 2013 predictions:

Pent-Up Demand: The continued replacement of cars and trucks that aged to a record level during the recession will propel sales this year.

Available Credit: Low interest rates for auto loans, which are expected to increase in future years, will help motivate consumers to finance a new-vehicle purchase in 2013.

More New-Vehicle Choices: New-vehicle models with greater consumer appeal in design and fuel efficiency are headed to dealerships. About 50 new models will be introduced at the North American International Auto Show in Detroit.

Declining Unemployment: The falling rate of unemployment has led to improving consumer confidence.

Used-Vehicle Shortage: The continued short supply of used vehicles for sale resulting from the past recession will cause some consumers to purchase new vehicles this year, instead of used ones.

Fiscal Cliff Avoided: So far, modest action by Congress to avoid the fiscal cliff, which avoids some tax hikes, will result in more new-vehicle sales early in the year.

Improving Home Values: Residential real estate prices are showing a recovery in nearly all states in the nation, increasing the typical family nest egg. As a result, consumers are more confident about spending on big-ticket items.

“Momentum” is the theme of the upcoming NADA Convention and Expo in Orlando, Fla., Feb. 8-11. Taylor will discuss the performance of the new-vehicle market, new-car dealers and the U.S. economy at a convention press conference on Feb. 9.

HOW TO WORK

With good will doing service, as to the Lord, and not to men. Ephesians 6:7

22Slaves, obey your earthly masters in everything; and do it, not only when their eye is on you and to win their favor, but with sincerity of heart and reverence for the Lord. 23Whatever you do, work at it with all your heart, as working for the Lord, not for men. Colossians 3:23-24

All hard work brings a profit, but mere talk leads only to poverty. Proverbs 14:23

Lazy hands make a man poor, but diligent hands bring wealth. Proverbs 10:4

He who gathers crops in summer is a wise son,

but he who sleeps during harvest is a disgraceful son. Proverbs 10:5

 

Good planning and hard work lead to prosperity, but hasty shortcuts lead to poverty. 6 Wealth created by lying is a vanishing mist and a deadly trap. Proverbs 21:5-6

8 Things Remarkably Successful People Do

This is worth reading, rereading, sharing, reading again, talking about with mentors, peers, co-workers, reading again, saving, printing, keeping a copy over the visor, and so on...http://www.inc.com/jeff-haden/8-habits-of-remarkably-successful-people.html?goback=.gna_156090.gde_156090_member_201613513

THE SIMPLE SALES TIP

Ask open ended questions, and stop talking. Only ask one question. Get the prospect to respond before asking the next question. Many people ask a question, and try to clarify with another question before allowing the prospect to respond to the first question. It is insulting to your prospect. Without realizing it, this is interrupting the prospect or client before they can even start to respond.

Leave it vague for the prospect to start talking. This will allow you to see & HEAR their line of thinking over your own. This practice will encourage & improve upon your listening. It will prevent assumptions & mutual mystification.